🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

UK business lobby seeks to draw back from Scottish anti-independence campaign

Published 25/04/2014, 17:28

By David Milliken

LONDON (Reuters) - Britain's most prominent business lobby group plans to reverse its decision to be an official campaigner against Scottish independence after members quit over its stance.

The Confederation of British Industry has applied to de-register as a supporter of the anti-independence campaign ahead of September's referendum, a source familiar with the discussions told Reuters on Friday.

The CBI's web site briefly carried a link entitled 'CBI asks electoral commission to nullify application under Scottish Referendum Act', which did not go to a web page. The link was subsequently removed.

The CBI and Britain's Electoral Commission, which is overseeing the referendum, declined to comment immediately on the application.

The source said the CBI believed that initial legal advice that the group should register as an official campaigner was flawed.

The registration by the CBI was condemned by some of its members who said the group had not sought their signoff over a decision that could jeopardise their neutrality in the increasingly bitter debate.

Several organisations - including the BBC and Edinburgh, Glasgow and Aberdeen universities - have resigned from or suspended their membership of the CBI because they did not wish to be linked to the anti-independence campaign.

Organisations or individuals must register as campaigners if they want to spend more than 10,000 pounds ($16,800) on campaigning during the official referendum period.

The CBI, the leading group in Britain to represent large employers, has consistently ­argued against independence, saying it would cause uncertainty over currency, taxation, financial regulation and European Union membership and could harm businesses in Scotland which has a large financial sector.

(Reporting by David Milliken, Editing by William Schomberg and Angus MacSwan)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.